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2018-10-09 15:19:59

PCG

PG&E

$48.48

0.55 (1.15%)

15:19

10/09/18

10/09

15:19

10/09/18

15:19

PG&E responds to Cascade wildfire announcement

Pacific Gas and Electric Company issued the following statement in response to the release of information by the California Department of Forestry and Fire Protection, or CAL FIRE, regarding the October 2017 Cascade wildfire: "The safety of our customers, their families and the communities we serve is our most important job. Without question, the loss of life, homes and businesses in these extraordinary wildfires is heartbreaking and we remain focused on helping communities recover and rebuild. As independent experts have confirmed, extreme weather, years of drought, and millions of dead trees are feeding an unprecedented risk of wildfires. In light of this, we recognize we all need to do even more to help reduce the risk of wildfires, and are committed to working together with our state and community partners to develop comprehensive safety solutions for the future. We look forward to the opportunity to carefully review the CAL FIRE report to understand the agency's perspectives. In the meantime, we are continuing to focus on implementing additional precautionary measures intended to further reduce wildfire threats, such as working to remove and reduce dangerous vegetation, improving weather forecasting, upgrading emergency response warnings, making lines and poles stronger in high fire threat areas and taking other actions to make our system, and our customers and communities, even safer in the face of a growing wildfire threat."

11

Nov

PCGPG&E

$48.48

0.55 (1.15%)

09/06/18

09/06/18NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street

Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS WEIGH IN ON MICRON: Despite recent softness in DRAM spot pricing, the more appropriate metric for Micron Technology (MU) investors to focus on is gross margin, Deutsche Bank analyst Sidney Ho said. On gross margin, the analyst sees Micron benefiting from "solid cost improvement through technology transition" in fiscal 2019. Further, he believes the DRAM market has become more diverse, which should help offset temporary weakness in any given end market. As the company continues to execute on its technology roadmap and delivers solid operating results, Ho expects Micron's stock valuation to re-rate. He kept a Buy rating and $80 price target on Micron. However, Baird analyst Tristan Gerra said Micron is no longer a top large-cap idea, citing its valuation and the likelihood gross margins may be nearing their peak. He also noted DRAM pricing is likely peaking and NAND is in significant oversupply. Gerra maintained an Outperform rating but lowered his price target to $75 from $100 on Micron shares. ARGUS UPGRADES PG&E TO BUY: Argus analyst Jacob Kilstein upgraded PG&E (PCG) to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B. NORTHLAND DOWNGRADES TILRAY TO MARKET PERFORM: Northland analyst Mike Grondahl downgraded Tilray (TLRY) to Market Perform from Outperform. While he continues to see the company playing a "huge role" in the recreational-use cannabis market in Canada and other countries and the medical market in Europe, he also believes the risk/reward is far more balanced following the recent "massive" move in the stock. JPMORGAN CUTS FRANKLIN RESOURCES TO UNDERWEIGHT: JPMorgan analyst Kenneth Worthington downgraded Franklin Resources (BEN) to Underweight from Neutral and lowered his price target for the shares to $29 from $32. The analyst believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. He thinks challenges in emerging markets put additional pressure on "an already challenging growth story characterized by weak fund performance, significant outflows, and declining margins." Worthington continues to have a negative view on the asset management sector.

09/06/18

09/06/18UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. PG&E (PCG) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. 2. Arrowhead (ARWR) upgraded to Buy from Neutral at B. Riley FBR with analyst Madhu Kumar saying while the data presented this morning are early, they provide clinical proof of concept for Arrowhead's current hepatitis B virus franchise. 3. TSYS (TSS) upgraded to Outperform from Perform at Oppenheimer with analyst Glenn Greene saying he remains optimistic regarding the company's growth outlook and improving business mix going forward. 4. Vodafone (VOD) upgraded to Buy from Neutral at Citi with the firm saying it sees near-term upside in the shares amid improving conditions in Germany. 5. Inseego (INSG) upgraded to Buy from Hold at Canaccord with analyst T. Michael Walkley citing his 2020 estimates, which he raised following meetings with management. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

09/06/18

ARGS

09/06/18UPGRADETarget $54ARGSBuy

PG&E upgraded to Buy at Argus after its California legislative win

As reported earlier, Argus analyst Jacob Kilstein upgraded PG&E to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. The analyst also raised his FY18 EPS view to $3.82 from $3.72, while noting that the company's valuation of 12.3-times his expected FY18 earnings is well below the industry average of 18.1-times. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B.

Stock futures were higher throughout the early session amid optimism surrounding the ongoing trade talks with China. The President is scheduled to meet with China's top trade official this afternoon with hopes of forging a deal, according to reports. The futures action has led to a higher open for the market, which will have little to rely on other than trade headlines as the domestic economic calendar has nothing scheduled for release today. Nearly an hour into trading, the S&P is up 11 points, the Dow is up 130 points and the Nasdaq is up 34 points.